RockBridge and Concord acquire the Renaissance Meadowlands in Rutherford, N.J.

RockBridge Partners, a division of RockBridge, and Concord Hospitality Enterprises, have acquired 167-room Renaissance Meadowlands Hotel for an undisclosed amount. The hotel will undergo a $5.25-million renovation that will include the guestrooms and bathrooms, public space upgrades, expanded fitness center and the Renaissance Great Room concept, a redesign of the common spaces within the hotel like the lobby, check in area, and restaurant.

"The property has an excellent location and, with the planned renovation, we look forward to improving this Renaissance’s leadership position in the market," said Jim Merkel, president and CEO of RockBridge. 

"This transaction represents Concord's continued confidence in the north Jersey market," said Mark Laport, president of Concord. "We currently are developing two other hotels in Northern New Jersey in addition to the seven that Concord has in its current managed portfolio.  Major metro areas like northern New Jersey typically present significant barriers to entry, but as the industry continues its rebound, the right projects with the right partners increasingly making sense."

The hotel is less than 10 miles from Manhattan and close to the MetLife Sports Complex, as well as the Meadowlands Racetrack, the Prudential Center, the New Jersey Performing Arts Center, Ellis Island and the Liberty Science Center. 

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